FY2024 EPS Estimates for ELDN Boosted by Cantor Fitzgerald

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) - Stock analysts at Cantor Fitzgerald raised their FY2024 EPS estimates for Eledon Pharmaceuticals in a research report issued to clients and investors on Wednesday, November 13th. Cantor Fitzgerald analyst P. Stavropoulos now expects that the company will post earnings of ($0.28) per share for the year, up from their prior forecast of ($1.14). The consensus estimate for Eledon Pharmaceuticals' current full-year earnings is ($0.72) per share.

Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.02).

Eledon Pharmaceuticals Stock Performance

NASDAQ:ELDN traded down $0.10 during midday trading on Monday, reaching $3.90. 240,670 shares of the stock traded hands, compared to its average volume of 196,268. The stock has a market capitalization of $154.67 million, a PE ratio of -1.94 and a beta of 0.76. Eledon Pharmaceuticals has a 12-month low of $1.11 and a 12-month high of $5.54. The business has a 50-day moving average of $3.29 and a two-hundred day moving average of $2.91.

Institutional Trading of Eledon Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. Nantahala Capital Management LLC purchased a new position in Eledon Pharmaceuticals during the 2nd quarter worth approximately $1,584,000. Vanguard Group Inc. grew its position in Eledon Pharmaceuticals by 39.4% during the first quarter. Vanguard Group Inc. now owns 969,121 shares of the company's stock valued at $1,996,000 after buying an additional 273,703 shares during the period. Renaissance Technologies LLC increased its holdings in Eledon Pharmaceuticals by 57.1% in the second quarter. Renaissance Technologies LLC now owns 136,773 shares of the company's stock valued at $361,000 after buying an additional 49,704 shares in the last quarter. Armistice Capital LLC raised its position in shares of Eledon Pharmaceuticals by 1.7% in the second quarter. Armistice Capital LLC now owns 2,336,000 shares of the company's stock worth $6,167,000 after acquiring an additional 39,000 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Eledon Pharmaceuticals by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 378,058 shares of the company's stock worth $942,000 after acquiring an additional 33,569 shares in the last quarter. Hedge funds and other institutional investors own 56.77% of the company's stock.

Eledon Pharmaceuticals Company Profile

Eledon Pharmaceuticals, Inc operates as a clinical stage biotechnology company. The company uses its immunology expertise in targeting the CD40 Ligand (CD40L, also called CD154) pathway to develop therapies to protect transplanted organs and prevent rejection, and to treat amyotrophic lateral sclerosis (ALS).